Three companies have signed leases totaling 57,000 square feet at Princeton Pike Corporate Center on Lenox Drive in Lawrenceville: J. Knipper and Company, Management Planning, and Eckert Seamans Cherin and Mellott. The site’s owner, Prism Capital Partners, credited a recent multi-million dollar upgrade of the eight-building, 800,000 square-foot property for attracting the new tenants.
J. Knipper and Company, Inc., which provides end-to-end samples management services to the pharmaceutical industry, leased 23,000 square feet of space at 1009 Lenox Drive. Headquartered in Lakewood, the firm recently acquired a Pennsylvania-based company; the lease at Princeton Pike Corporate Center will accommodate the relocation of that division. Sab Russo from Mercer Oak Realty served as tenant broker in the long-term transaction.
National law firm Eckert Seamans Cherin and Mellott LLC committed to 22,550 square feet on second floor of 2000 Lenox Drive. The Pittsburgh-based practice, which will relocate its regional office to the property from West State Street in Trenton, was represented by Ed DaCosta from CBRE in the long-term lease.
At 1000 Lenox Drive, Management Planning Inc., a financial services firm, leased 11,370 square feet. The company, which provides tax-based valuations, valuations for financial reporting purposes, and transaction and advisory services, will take occupancy of its third-floor space in a relocation move from Poor Farm Road. Roby Bull from Jones Lang LaSalle served as tenant broker.
“The improving economy has brought renewed velocity to the office leasing market, with companies coming off the sidelines to make strategic real estate decisions as they position themselves for growth,” says Edwin Cohen, a principal with Prism Capital Partners. “The Princeton submarket, in particular, is seeing significant interest, and our latest leases — including one relocation from out of state — speak to its appeal.”
Prism, which is based in Bloomfield, bought the office building in 2013 along with Angelo, Gordon & Company. “We are committed to providing an environment that fosters both tenant retention and new leasing interest,” Cohen says. “Our recent surge of leasing activity indicates we are on the right track.”